SE Asia Stocks-Vietnam rises over 2 pct, Malaysia extends gains

3 Min Read

* Thai May inflation at 16-mth high
* Indonesia closed for local holiday
By Mensholong Lepcha
June 1 (Reuters) - Most Southeast Asian markets rose on
Friday, with the inclusion of China stocks in a key emerging
markets index boosting sentiment, although caution set in as
global trade war fears reignited after the United States imposed
fresh import tariffs.
China A-shares' long-awaited inclusion in MSCI's benchmark
market indexes, a step toward deeper integration of the
country's bourses with the rest of the world, is expected to
help foreign inflows surge in the coming months.
U.S. tariffs on steel and aluminium imports against the
European Union, Canada and Mexico ended months of uncertainty
about potential exemptions and suggested a hardening of the
Trump administration's approach to trade negotiations.
While Canada and Mexico retaliated against the decision, the
European Union had its own reprisals ready to go.
Asia shares ex-Japan inched up, while Wall
Street fell overnight.
In Southeast Asia, Vietnam rose as much as 2.4
percent, with industrials gaining as factories saw record growth
in new export orders last month.
Vietjet Aviation climbed nearly 7 percent, while
Vietcombank rose as much as 6.3 percent.
Malaysian shares extended gains for a second day,
buoyed by financials. Malayan Banking rose as much as
3.5 percent.
The Philippine index climbed 0.6 percent, helped by
real estate and consumer stocks. SM Investments Corp was
up 1.8 percent, while Ayala Land rose 1.8 percent.
Thai shares edged down, with oil and gas producer
PTT falling as much as 1.9 percent.
Thailand's annual headline inflation in May rose to its
highest level in sixteen months, but well within the central
bank's target range of 1-4 percent.
Singapore shares were little changed, while markets
in Indonesia were closed for a local holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: Change as at 0427 GMT
Change on the day
Current Previous Close Pct Move
Singapore 3429.05 3428.18 0.03
Bangkok 1718.69 1726.97 -0.48
Manila 7544.37 7497.17 0.63
Kuala Lumpur 1755.35 1740.62 0.85
Ho Chi Minh 991.28 971.25 2.06
Change on year
Market Current End 2017 Pct Move
Singapore 3429.05 3402.92 0.77
Bangkok 1718.69 1753.71 -2.00
Manila 7544.37 8558.42 -11.85
Kuala Lumpur 1755.35 1796.81 -2.31
Ho Chi Minh 991.28 984.24 0.72
(Reporting by Mensholong Lepcha; additional reporting by Nicole
Pinto; Editing by Biju Dwarakanath)